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Jumeirah Golf Estates in spotlight after big land-sale deal

RIYADH, November 20, 2023

UAE-based real estate firms AveNew by RH, Pride and Property and Landsmith Real Estate have announced the completion of a joint land transaction worth over AED300 million - one of the biggest transactions of its kind - in Dubai’s coveted Jumeirah Golf Estates.
 
JGE is among the world’s ten foremost luxury and lifestyle estates and houses over 1,500 villas, townhouses and apartments. The transacted land that is part of this deal overlooks an expansive view of the Fairways. 
 
It is surrounded by the landscapes of a luxury golf course community which is a renowned name in the annual golf calendar and has hosted 14 editions of the acclaimed DP World Tour Championship’s (European Tour) finals, it stated.
 
Established in 2021, AveNew has created a strong presence in the Dubai Real Estate Market in a short span of time, specializing in helping investors and property buyers secure incredible deals across the emirate.
 
Landsmith Real Estate, a well-established homegrown boutique real estate firm, and among the pioneers in the luxury property segment in Dubai, specializes in prime residential locations as well as structuring deals and large commercial projects. 
 
Pride and Property, another formidable entity in the real estate realm, has immense experience in selling luxury off-plan and ready-to-move-in properties on the beachfront and other prominent locations in Dubai. The trio combined their expertise to secure this big land deal.
 
Nitin Chauhan, Director of Landsmith Real Estate, expressed his insights into the unique appeal of golf course-facing luxury villas in Dubai. "The final form of this project will be the epitome of luxury living in golf course communities. Golf course-facing luxury villas are popular but rare in this region," stated Chauhan. 
 
"With that demand dynamic becoming apparent and the location of this plot, which overlooks unique views of two Fairways, there was bound to be interest from top developers," noted Nitin, a specialist in luxury villas, plots and apartments in prime locations. 
 
He has had a major presence in Dubai’s real estate scene since the inception of freehold properties and is an investor in multiple projects and properties.
 
"This land sale serves as a clear indicator that Dubai's luxury real estate sector is poised for sustained growth and an upward trend in property prices. The sale is also a testament to Knight Frank’s list of the world’s top luxury real estate markets in2023, which placed Dubai at the top - accounting for 17% of global sales in the segment," he added.
 
Kunal Singh Sandhu, owner of Pride and Property, said: "We and our partners invested significant time and effort into this record-breaking transaction. There has been a major increase in buyers for luxury properties in Dubai and we think this is just the start for a promising segment. The best is yet to come for the luxury property market in Dubai."
 
The completion of this deal in Dubai is an indicator of the escalating demand for golf course communities due to several key factors. Foremost among these is the limited supply of such exclusive properties, he added.-TradeArabia News Service



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